Seminar

Utility and All That

David Pearce (New-York University)

  • Date27 October 2026
  • Time 11h00 - 12h15
  • Room Auditorium 3 - JJ Laffont

Abstract

Economists' conceptions of utility and welfare reflect misguided attempts to mimic the physical sciences. The resulting tangle of ideas about meaninglessness, cardinality and measurability forms a pyramid of misunderstandings that supports the wildly inappropriate standard interpretation of Arrow's Impossibility Theorem. A natural reading of the theorem resolves the perceived tensions between abstract social choice theory and practical welfare analysis.

Other seminars

To be announced

  • Seminar

  • Economic Theory Seminar

  • Date 8 December 2026

  • Place Auditorium 3 - JJ Laffont

  • Speaker or organiser Piotr Dworczak (Northwestern University)

Details

To be announced

  • Seminar

  • Economic Theory Seminar

  • Date 24 November 2026

  • Place Auditorium 5

  • Speaker or organiser Frank Yang (Stanford University)

Details

To be announced

  • Seminar

  • Economic Theory Seminar

  • Date 17 November 2026

  • Place Auditorium 5

  • Speaker or organiser Qianjun Lyu (University Carlos III of Madrid)

Details